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It might be easier to come up with a basic similarity than a basic difference.
If you think in terms of an outline, the whole outline is the whole system. A subsystem is one of the major outline topics. Within that are sub-topics that are jobs. And within each job are smaller sub-topics, activation groups.
A subsystem is a work management container for setting characteristics of the execution environment for jobs that run in it. It relates to a collection of jobs.
An activation group is a sub-unit of a single job. Resources that are accessed by the job can be isolated within an activation group. An activation group name is an attribute of a program.
Multiple programs can be called in a job, and programs that have the same activation group name will run in a smaller container together. They can share certain resources that aren't available to programs in a different activation group.
Resources within the group are released when the activation group ends.
Tom

The problem with the description is that it's too simple. It only gives a way to think about the structure of a relationship between the two. It doesn't take much work to see that a lot is left out. -- Tom

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